Argus cut shares of Cardinal Health (NYSE:CAH) from a buy rating to a hold rating in a research note issued to investors on Wednesday, November 15th, Marketbeat reports.
CAH has been the subject of a number of other research reports. Zacks Investment Research upgraded Cardinal Health from a sell rating to a hold rating in a report on Wednesday, November 8th. Royal Bank Of Canada initiated coverage on Cardinal Health in a report on Tuesday, September 19th. They set a sector perform rating and a $72.00 target price for the company. BidaskClub lowered Cardinal Health from a sell rating to a strong sell rating in a report on Wednesday, August 16th. UBS reiterated a neutral rating and set a $76.00 price objective (down previously from $79.00) on shares of Cardinal Health in a report on Wednesday, August 9th. Finally, Needham & Company LLC reiterated a hold rating on shares of Cardinal Health in a report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $73.91.
Cardinal Health (CAH) traded up $2.12 during midday trading on Wednesday, reaching $61.02. The company had a trading volume of 6,033,358 shares, compared to its average volume of 2,442,061. Cardinal Health has a 12 month low of $54.66 and a 12 month high of $84.88. The stock has a market capitalization of $18,530.15, a P/E ratio of 11.18, a PEG ratio of 1.70 and a beta of 0.85. The company has a quick ratio of 0.52, a current ratio of 1.06 and a debt-to-equity ratio of 1.35.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Monday, November 6th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.09. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. The business had revenue of $32.64 billion for the quarter, compared to the consensus estimate of $33.48 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. sell-side analysts anticipate that Cardinal Health will post 4.97 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be paid a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Friday, December 29th. Cardinal Health’s dividend payout ratio is presently 53.78%.
A number of institutional investors have recently modified their holdings of CAH. Steward Partners Investment Advisory LLC acquired a new stake in shares of Cardinal Health during the 3rd quarter worth approximately $102,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of Cardinal Health by 31.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock worth $123,000 after purchasing an additional 382 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of Cardinal Health by 18.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock worth $136,000 after purchasing an additional 270 shares during the last quarter. JFS Wealth Advisors LLC lifted its position in shares of Cardinal Health by 14.3% during the 2nd quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock worth $152,000 after purchasing an additional 244 shares during the last quarter. Finally, Dupont Capital Management Corp purchased a new stake in shares of Cardinal Health during the 2nd quarter worth $164,000. 88.47% of the stock is currently owned by hedge funds and other institutional investors.
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Cardinal Health Company Profile
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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